TUCSON, ARIZONA – In two separate investment transactions Lee & Associates handled properties valued at $4.2 million in Tucson’s Southern Submarket.

California-based, Corsair Management, LP (David Paul Oddo, manager) sold the building at 4670 S Palo Verde Road in Tucson for $3.2 million ($114 PSF).

The 28,145-square-foot building on 3.21 acres was constructed in 2004 and sold fully leased to Gerber Collision and Glass. The automotive building consists of lobby and reception areas, office’s and conference rooms, a warehouse, 4 grade level doors, and fenced yard.

David Newton, SIOR of Lee & Associates in Orange, CA represented the buyer, a Family Trust from Long Beach, CA.

For more information, Newton can be reached at 714.647.9100.

To learn more, see RED Comp #6399.

In a separate transaction, Aceland sold the building at 4030 E Michigan Street in Tucson to a private investor from Huntington Beach, CA for $1 million ($161 PSF).

Built in 1988, the 6,200-square-foot building on 1.99 acres was occupied by Tucson Ace Asphalt at time of sale.

Marcus Muirhead and Allen Lowe with Lee & Associates in Phoenix handled the transaction.

For more information, Muirhead can be reached at 602.474.9589 and Lowe is at 602.954.3747,

To learn more, see RED Comp #6390.

Oro Valley, Arizona – A single tenant medical building at 1856 E Innovation Park Drive in Oro Valley sold in an investment sale for $1.32 million ($233.46 PSF). The 5,654-square-foot building was purchased by California investor, La Mantia Family 2001 Trust, and was fully occupied by Oro Valley Pediatrics.

A group practice with a single location, Oro Valley Pediatrics specializes in Pediatrics with four physicians. The office offers separate sick and well waiting areas and provides a more home-like environment for families. Physicians offer traditional pediatric care as well as some alternative care including a referral base to traditional and alternative care pediatric providers.

Oro Valley is located north of Tucson. The Medical Office is adjacent to Oro Valley Hospital and Oro Valley Marketplace is anchored by tenants such as Walmart, Best Buy, Dicks Sporting Goods and more.

Tony Reed with Long Realty represented the seller, Roberts-Smith Properties, LLC Trust (Dr. Carl Robert, manager) in the sale leaseback transaction. Rick Kleiner of Cushman & Wakefield | Picor represented the investor.

For more information, Reed can be reached at 520.918.5189 and Kleiner should be contacted at 520.546.2745.

To learn more, see RED Comp #6400.

TUCSON, ARIZONA — Steve Cohen and Russ Hall of Cushman & Wakefield | Picor represented Scannell Properties of Indianapolis, IN (Robert Scanell, CEO) in the assemblage of 9.57 acres for the new Amazon distribution center being built in Tucson. Scanell purchased the property for approximately $1.5 million ($3.60 PSF) land value in two separate transactions with buildings to raze on it.  Both transactions closed November 29, 2018.

The site is located at the southwest corner of Silverlake Road and I-10 with addresses on 29^th Street and Silverlake, west of downtown Tucson.  Scanell has already begun prep work for the 50,000-square-foot single story warehouse to be used for sorting from larger warehouses and package transfers to smaller delivery vehicles, along with space for vehicle storage, washing and a fueling center.

Last year, Amazon paid $11.6 million ($145,926 per acre / $3.35 PSF) for its 79.5-acre site at 6701 S Kolb Road in Tucson within the Century Park Research Center, an active inland port of Tucson located in an active Foreign Trade Zone (FTZ) and an Arizona Enterprise Zone, both of which provide certain duty and tax benefits.

The building under construction consists of 857,388-square-feet of warehouse storage and office facility with three levels of mezzanines, totaling 1,196,161-square-feet and an additional process mezzanine of 265,049-square-feet. The entire project will have 63 loading docks, nearly 400 transport trailer parking spaces, along with 2,500 standard parking spaces, on the site.

The fulfillment center is expected to bring with it 1,500 full time associates with competitive wages.  It is unknown how many jobs the new distribution center will bring.

The two facilities will compliment each other.

Mike Hennessey of Burris, Hennessy & Company represented Barnett & Shore Contractors the seller of 819 W Silverlake Road while Walter Unger, CCIM, of Kasten Long Commercial Group in Phoenix represented the seller, Fiandaca Orland Living Trust, of 801 W 29^th Street.

“It was a quick assemblage and escrow,” according to Steve Cohen. “As both properties were already on the market for sale. With two Amazon centers here by the end of this year, Tucson is becoming the logistics center of the Southwest.”

For additional information, Unger can be contacted at 520.975.5207, and Hennessey is at 520.882.4343. Cohen should be reached at 520.546.2750 and Hall can be called at 520.546.2747.

To learn more, see RED Comps 6372 and #6379.